So What is going on the real estate market ?

In the past few months, there was a slow down in the market because of how busy it was last spring; medium house prices went up and so did the interest rates. The fear of a bubble, and more money required to carry home’s expenses, contributed to the situation. However, market prices stabilized and have not increased in the past few months. Properties that require renovations have dropped in price. High end market prices have stayed the same. The market is still very active, but buyers will purchase properties when they feel that they are getting some value.

My advice to sellers: tune in and understand the buyer’s state of mind. Unless a home is priced good and is of value to the buyer, they will not put a bid on it. A drop in the price has shown multiple offers.

My advice to the buyers: use this second chance the market is giving you this year,  purchase a home because there is more inventory & prices make more sense. Be smart and act to your advantage, It's not whether you negotiated with the seller, it’s how much equity the home has when you purchased it. Pay over asking price when a house is priced way lower than the market value, otherwise, others will do it and will grab the opportunity !!
With warmest wishes,
Merav Rashty